Mining Package

Overview

There are certain basic fundamentals associated with mining, but every company is different and each has its own distinct risk profile. Factors such as public vs. private, production vs. exploration, above ground vs. below ground, geography, political environment, Board of Director’s risk tolerance, financial stability, price of metals and lender’s requirements all play a role in shaping a mining company’s risk profile and their corresponding risk management approach.

Insurance is only one aspect of an overall risk management strategy, but for it to be effective an insurance program has to be designed to appropriately address the specific risk factors facing an organization so that it is neither under-insured nor over-insured. There is no “one-size-fits-all” solution for the mineral industry, therefore we design a bespoke insurance program for every PDAC member we work with that addresses their specific risk profile.

 

 

Mining & Contractors Insurance Program

Administered by Paisley Partners for PDAC members, the program addresses the insurance and risk management needs of all companies working in the Canadian mineral industry - private or public, exploring or operating, and mining contractors / equipment providers. The PDAC insurance program offers flexibility through multiple coverage options, expert advice and service customized to your specific insurance needs.

How to Apply

Paisley Partners can review your business needs and recommend the right insurance package to ensure you're protected against any risks your company may face. For the best results, call us for a quick quote before you buy your insurance.

Get your free, online no-obligation quote and policy issuance today!

To submit a PDF Application or to obtain information on coverage for international members, contact us at [email protected] or 1 877 427 8683.

PDF Applications (available soon)

Directors & Officers Liability
Non-Owned Aviation Insurance
General Liability, Property/Equipment, Canadian Auto, Kidnap & Ransom

Directors & Officers Liability (D&O)

Coverage for Directors and Officers, as well as the organization, if desired, against liabilities arising out of actual or alleged wrongful acts, committed while performing their corporate duties. The need for this insurance is driven largely by an increasing number of private securities related claims, small businesses are at risk for multi-million dollar lawsuits. These lawsuits can have a devastating impact on individuals since the owners personal wealth is often tied to the financial wealth of the company. This insurance protects your company, its directors, officers and employees against a liability lawsuit brought against the company, directors, officers and employees for wrongful acts. This policy is issued on a claims made basis.

Commercial General Liability (CGL)

Coverage for legal liability resulting from third party bodily injury and/or property damage arising out of or in connection with your operations and products. It is important to note the insurance policy is designed to indemnify you for a claim made in Canadian and US courts from work done anywhere in the world. This coverage can be altered to include international court proceedings.

Property & Business Interruption

Covers all risks of physical loss or damage to insured assets, including: buildings, content, equipment, inventory, unlicensed mobile equipment, etc. Business Interruption is an extension of a Property policy and covers the financial loss as a result of loss or damage to an insured asset.

Machinery Breakdown

Covers direct physical damage and resultant Business Interruption as a result of a mechanical or electrical breakdown to machinery and equipment.

Kidnap, Ransom, Extortion

Provides financial protection and crisis risk management services in the event a member of your organization is kidnapped or your property is threatened.

Business Travel 

Coverage for business travel that can include all employees, as well as business associates accompanying you on business. We can also provide emergency medical and security evacuation insurance.

Course of Construction

Covers all risks of physical loss or damage to the insured project including: buildings, content, equipment, inventory, contractor's equipment during the construction phase.

Non-owned Aviation Liability (Charterer's Liability)

Provides contingent liability coverage in the event the charter's aircraft's insurance is inadequate in the event of an accident.

Specie (precious metals at site and in transit)

Covers all risks of physical loss or damage of precious metals at the minesite or in transit to the refineries, on a primary or contingent basis.

Environmental Impairment Liability (EIL)

Coverage for sudden & accidental and/or gradual pollution conditions, either on a first party clean up basis or a third party liability basis.

Political Risk

Insures an organization's foreign investment or assets from loss arising from confiscation, expropriation or nationalization by a foreign government and/or loss due to a devaluation of currency or currency inconvertibility.

Marine Cargo

Covers all risks of physical loss or damage to insured property/equipment whilst in the course of a marine and/or air transit, anywhere in the world.

Contractors / Field Equipment

Physical loss or damage to or liability arising out of the use of contractor’s equipment, including: drill rigs, haulers, graders, tractors, dozers, etc. This provides insurance for accidental direct physical loss or damage to your field equipment including while in storage at your warehouse, in transit and while in use.

Cyber

Protects you and your practice by covering the forensic and legal expenses to investigate and fix security leaks including liability from patents and/or other third parties if their medical files or credit cards have been compromised.

Unlimited Telephone Legal Advice 

Personal legal expense insurance coverage that allows you access to legal advice from a lawyer, primarily through telephone-based services, for both business and personal matters. Please note that Paisley Partners must be contacted for legal questions related to an insurance claim or complaint.

Insured by DAS, a division of Munich Re